Boston, MA Office Overview

Notable Boston commercial real estate neighborhoods include the Back Bay, North End Boston,
and South Boston office space submarkets. With a metropolitan population of nearly 2 million
people, Boston is the largest city in New England and is seeing major demand for office space
throughout the entire region.

As of mid-2017, the Greater Boston office market encompasses over 74 million square feet of
existing office space in properties larger than 50,000 square feet. Boston's reputation as the
intellectual and medical center of New England continues to create demand for white collar
office employment in the education, bio-technology, education, and financial services sectors
and also has a powerful impact on the Boston commercial real estate market.

Boston, MA Office Inventory Description

Boston ranks among the top 30 most economically powerful cities in the world and is home not
only to a diverse mix of white collar businesses but is also considered to be highly innovative
due in no small part to the presence of world-class universities that attract high-technology
companies and venture capital.

With a gross metropolitan product of nearly $177 billion annually, there is powerful demand for
white collar office employment in Boston. Nearly 75% of the office space in Boston is Class A or
A+, while Class B inventory contributes an additional 25% of product to the market.

Boston, MA Green Office Space

Of the Top 30 Green Office Markets in the U.S., Boston ranks 14 th for energy-efficient office
buildings. While nearly 4% of the office buildings larger than 50,000 square feet are LEED
certified, just under 9% rank as Energy Star Certified and nearly 11% are recognized as green
buildings.

An outstanding example of a LEED-certified office building in Boston is 100 Cambridge Street.
Built in 1965, this nearly 750,000-square- foot office building has attained LEED Gold
certification.

It's not just newly-built office buildings that can be energy efficient. Built in 1873, the One
Winthrop Square office building in Boston's Downtown Financial District is recognized as a LEED
certified green office building. As tenants, national and global investors seek out green certified
office assets for their use and portfolios, the green office trend will continue to grow in Boston.

The 2017 National Green Building Adoption Index reviewed commercial office properties in the
top 30 U.S. markets. Including EPA Energy Star-labeled buildings, the volume of green
certification has increased from less than 5% in 2005 to 38% as of mid-2017. Boston has placed
14th on this survey.

Boston, MA's Top Office-Using Sectors

Finance, education, bio-technology and high-technology all contribute significantly to the
economy in Boston and drive demand for white collar employment in the metropolitan area.
The Route 128 Corridor and the Greater Boston area continue to attract large amounts of
venture capital investment.

News

$24 billion worth of assets changed hands in the top 50 biggest office deals to close in 2018. Google, Disney, Samsung mingled with established top CRE players. Check out the full list and read up on last year&#8217;s most notable U.S. office investments.

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